Magnetic alpha-Fe2O3/Fe3O4 composite spherical particles were synthesized by nanosecond pulsed laser irradiation to alpha-Fe2O3 nanoparticle powder suspended in pure water and acetone. It was shown that the laser-induced reduction efficiencies in two solvents were comparable. The obtained submicrometer spheres exhibited a ferromagnetic property having a higher coercivity than that of commercial Fe3O4.